\u201cPrivate equity firms continue to acquire casino gaming real estate assets in Las Vegas and are paying 16 to 20 times cash flow, yet the Fund’s holdings in Red Rock Resorts and MGM Resorts (both with significant Las Vegas exposure) are currently valued at only 7.5 to 10 times cash flow,\u201d <\/strong>says the portfolio manager.<\/p>\nRed Rock\u2019s Las Vegas portfolio includes 10 large-scale gaming venues and 10 smaller casinos, which are within five-mile commutes of 90% of the city\u2019s population. Like rival Boyd, Red Rock owns essentially all of its real estate. It also controls \u201cseven highly desirable gaming-entitled development sites consisting of approximately 428 acres in Las Vegas and Reno,\u201d according to the operator\u2019s investor relations web site.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Baron Real Estate Income Fund, one of the best-performing actively managed real estate funds, added shares of Las Vegas Sands (NYSE:LVS) in the first quarter. It remains constructive on several other casino stocks in its portfolio. In the first three months of 2022, the fund purchased 3.2 million shares of Sands, making the gaming […]<\/p>\n","protected":false},"author":46,"featured_media":214126,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,81886],"tags":[],"acf":[],"yoast_head":"\n
Barron Real Estate Fund Positive On Select Casino Stocks<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n